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Qualification Shares:
S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.
Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).
2. S.186 : Age Limit
S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-
a) He has not attained the age of twenty-one; or
b) b) he has attained the age of seventy.
Fraudulent Preference: Under s.312, any disposition of the company's property and any creation of a charge, fixed or floating, effected during the period of six months before
An employee at the supermarket you manage mopped one of the aisles in the store and placed signs at the ends of the aisle to warn people not to use the aisle until the floor dried.
State Preamble of the United Nations Charter 'We the Peoples of the United Nations determined to save succeeding generations from the scourge of war...and to reaffirm faith in fu
Directors Report: By S.157 (1) the balance sheet must have attached to it a directors' report on the company's affairs, including the amount, if any, which they recommend shou
I. Sammy has been under continuous employment with World Entertainment Ltd for 5 years. Last Friday Sammy was called to the Director's Office and verbally informed that h
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